Chase Coleman is an American hedge fund manager who has a net worth of $7.4 billion. Even though Chase was born into “old money”, he has managed to make quite a substantial amount of “new money” as well. Chase is the son of a New York lawyer and an interior designer. His grandfather, and namesake, Charles Payson Coleman I, was a managing partner of New York law firm Davis Polk & Wardwell.
Earle Life: Chase Coleman, III. was born on June 1, 1975 in Glen Head, Long Island. His father was a lawyer and his mother operated an interior design company. Chase a descendant of Peter Stuvesant, the last Dutch governor of New York. For high school he attended Deerfield Academy. He then enrolled at Williams College where he graduated in 1997.
Career: After graduating, Chase went to work at Tiger Management, which was founded by Julian Robertson, the father of one of his childhood friends, Spencer Robertson. Tiger Management is one of the earliest hedge funds. Robertson started the fund in 1980 with $8 million. By the late 1990s the firm was managing over $20 billion. Unfortunately, several bad bets left Tiger Management in a position where Robertson chose to close the fund down entirely in 2000.
Tiger Global Management: After Julian closed down his fund, he gave Chase $25 million in seed capital to launch his own fund. Chase named his fund Tiger Global Management. Robertson would go on to fund around 50 hedge funds this way. The funds became known as “Tiger Cubs” and would spawn several multi-billion dollar fortunes.
Today Tiger Global Management oversees more than $42 billion. The fund was an early investor in Facebook, LinkedIn and Spotify.
According to a report released in January 2021, Chase’s Tiger Global Management was the best-performing hedge fund in the world in 2020, generating $10.4 billion in returns for its investors. To date, Tiger Global has generated more than $25 billion for its investors. Two other “Tiger Cubs” made the list; Line Pine Capital generated $9.1 billion. Viking Global generated $7 billion.
Coleman is co-chair of the investment committee for the Hospital for Special Surgery in New York. Getting back to Tiger Global Management, it owes its success to making a bunch of smart investments like selling a big chunk of its stake in Facebook in the IPO. Most recently (in the first half of 2013), Tiger Global posted net returns of 5.5%, whereas in the previous three years, Coleman has scored net return in excess of 20%. This explains why he was regarded to be the most profitable hedge fund founder in 2011.
| Net Worth: | $7.4 Billion |
| Date of Birth: | Jun 1, 1975 (46 years old) |
| Profession: | Hedge fund manager |
| Nationality: | American |